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Mr. Pink invests $500 at the end of every month for 15 years into his Reservoir Dog Mutual Fund that is expected to earn a
Mr. Pink invests $500 at the end of every month for 15 years into his Reservoir Dog Mutual Fund that is expected to earn a stunning 10% compounded quarterly! Determine:
a) How much money is in the account in 15 year?
b) If he leaves the money in the account for another 7 years after the original 15 years to just earn interest (payments are stopped), how much is in the account in 22.5 years?
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